Apigee Corporation helps companies design, secure, and scale application programming interfaces (APIs).

According to the Complaint, on or about November 28, 2014, Apigee filed with the SEC its Registration Statement on Form S-1, which, following several amendments made in response to comments received from the SEC and being declared effective by the SEC on April 23, 2015, would later be utilized for the IPO. On or about April 24, 2015, Apigee and the Underwriters priced the IPO at $17 per share, filed with the SEC the final prospectus for the IPO, which forms part of the Registration Statement (the Prospectus and Registration Statement are collectively referred to herein as the "Registration Statement"), and sold 5,115,000 shares of Apigee common stock to the investing public.

The Complaint alleges the Registration Statement was negligently prepared and, as a result, contained untrue statements of material fact or omitted to state other facts necessary to make the statements made not misleading, and was not prepared in accordance with the rules and regulations governing its preparation.

On September 1, 2017, the Court issued an Order remanding this case to San Mateo Superior Court.